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The Warehousing Corporations Act, 1962

Central

An Act to provide for the incorporation and regulation of corporations for the purpose of warehousing of agricultural produce and certain other commodities and for matters connected therewith.

Act number
58 of 1962
Ministry
Ministry of Consumer Affairs, Food and Public Distribution
Department
Department of Food and Public Distribution
Enacted
19 Dec 1962

Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.

45 sections

  1. Section 1Short title, extent and commencement.
  2. Section 2Definitions.
  3. Section 2AConstruction of references to any law not in force or any functionary not in existence in any State.
  4. Section 3The Central Warehousing Corporation.
  5. Section 4Share capital and shareholders.
  6. Section 5Shares to be guaranteed by Central Government and to be trust or approved securities.
  7. Section 6Management of Central Warehousing Corporation.
  8. Section 7Directors.
  9. Section 8Disqualification for office of director of the Central Warehousing Corporation.
  10. Section 9Removal of directors from office.
  11. Section 10Appointment of officers, etc., and their conditions of service.
  12. Section 11Functions of Central Warehousing Corporation.
  13. Section 12Executive Committee.
  14. Section 13Meetings of the Corporation.
  15. Section 14Grants and loans by the Central Government.
  16. Section 15Corporation to maintain two funds.
  17. Section 16Warehousing Fund.
  18. Section 17General Fund.
  19. Section 18State Warehousing Corporations.
  20. Section 19Share capital and shareholders.
  21. Section 20Management of a State Warehousing Corporation.
  22. Section 21Disqualification for office of director of the Corporation.
  23. Section 22Removal of directors from office.
  24. Section 23Appointment of officers, etc., and their conditions of service.
  25. Section 24Functions of the State Warehousing Corporation.
  26. Section 25Executive Committee.
  27. Section 26Submission of programme of activities and financial estimates.
  28. Section 27Borrowing powers of Warehousing Corporation.
  29. Section 28Deposit account.
  30. Section 29Investment of funds.
  31. Section 30Disposal of profits.
  32. Section 31Accounts and audit of Warehousing Corporation.
  33. Section 31AReturns and reports.
  34. Section 32Vacancies, etc., not to invalidate acts and proceedings of Warehousing Corporations.
  35. Section 33Delegation.
  36. Section 34Voting rights of shareholders.
  37. Section 35Disputes between Central Warehousing Corporation and State Warehousing Corporation.
  38. Section 36Declaration of fidelity and secrecy.
  39. Section 37Indemnity of directors.
  40. Section 38Omitted.
  41. Section 39Provisions relating to income-tax and super-tax.
  42. Section 40Winding up of Warehousing Corporations.
  43. Section 41Power to make rules.
  44. Section 42Power of Warehousing Corporations to make regulations.
  45. Section 43Repeal and savings.